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December 20, 2007

Next-Generation Business

There has been a lot of innovation happening in the areas of business and technology. From observation and analysis its understood that most of the key players in the market have been successful for something that they employed in their approach. This "something" has been in the areas of business case, go to market (GTM), cutting-edge technologies, simplification of technologies and usage, targeting a niche market and many more. The list is an exhaustive one.

From a business standpoint, the future business strategies will involve more around human network chains and the tapping certain key points in the humans' thinking networks/patterns. The next generation of business will hugely try to capitalize on the very volume of people using it or even noticing its presence.

In a world thats fast changing, man has wanted to see reactions even before something can trigger it (by ways of understanding thinking patterns). In the world of virtual business, we do see how Attention is something that's being exploited. This is not something new happening. We've seen hoardings being used on the road sides that precisely work on this very concept.

Next generation businesses will hugely rely on exploiting the areas of the human mind that was never before used for marketing. Amazon created this new way of selling products by saying "All those who bought this product (X), also bough Y". This created a huge difference to Amazon's sales.

Another key feature of the next-generation businesses will be the fact that it would come with zero cost (FREE, in other words). Free is the way of nature. An entire valley can be fertile when its well irrigated by the water flowing down the stream, originating form the mountains. What happens when one obstructs the flow of this stream? The crops that it irrigates, would die! Thats the concept businesses will follow - As long as they (products) are free, its gets used. Once the cost factor steps in, it will die.

Chris Anderson has given a fantastic talk about the FREE economy at the recently concluded Nokia World 2007. You can watch this video here.